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Australia on Thursday avoided a US-style shutdown after the government struck a deal with the Greens to abolish the nation’s debt ceiling. The current cap of Aus$300 billion (US$271 billion) was due to be hit next week, with Treasurer Joe Hockey warning of massive cuts to government expenditure if a resolution was not found. A bill to raise the limit passed the House of Representatives last...
18 hours ago
World news | guardian.co.uk
Treasurer wants to talk compromise with Labor party and Greens to push through his controversial debt ceiling increase The treasurer, Joe Hockey, is being forced to negotiate a compromise with the ALP or the Greens over the government's demand for a $200bn increase to the government's borrowing limit before the end of the year, as the Abbott government faces the reality of a hostile Senate at...
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